Fannie Mae sees its profit doubleNEW YORK — Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter.The government-controlled mortgage company has already paid the Treasury $154.4 billion in dividends since receiving $116.1 billion in government bailouts between 2008 and 2011. Fannie Mae’s sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit soared.Both companies buy mortgages from lenders, package them as bonds, guarantee them against default and sell them to investors. They do not make loans to homebuyers directly.Fannie Mae said it had net income of $5.04 billion in the fourth quarter, up from $2.5 billion in the same period a year ago.

Imports hit historic high at Philly portPHILADELPHIA — Authorities say shipping has reached record levels at the Philadelphia port.Cargo and containerized freight are up a combined 54 percent, making January the best month in history. The completion of the Panama Canal expansion now allows larger ships to access the Delaware River.Companies from Chile, Peru, and Panama export fruit to Philadelphia instead of Baltimore or Newark. Philadelphia has also seen a massive increase in containers carrying household appliances and beer.Tom Holt Jr., president of Holt Logistics, said many countries are attracted to the value of the dollar compared to their currency. Holt sayid the return is ultimately better.Steel is one of the few cargoes that is decreasing. However, experts said the decrease is not indicative of larger trends.

Home Depot tops quarterly forecastsATLANTA — The Home Depot today reported fiscal fourth-quarter earnings of $1.74 billion.The Atlanta-based company said it had net income of $1.44 per share.The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.The home-improvement retailer posted revenue of $22.21 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $21.81 billion.Home Depot expects full-year earnings to be $7.13 per share.

Avon Products’ shares plungeNEW YORK — Shares in Avon Products plunged 20 percent as sales at the cosmetics company continued a long slide and the number of people selling them declined.There were 2 percent fewer people selling Avon products during the quarter.Sales have declined every year since 2012, and fell 8 percent in 2016.For the fourth quarter, Avon reported a loss of $10.7 million, or 4 cents per share.Adjusted for expenses, the company made one penny per share, far worse than the per-share earnings of 9 cents that Wall Street had expected, according to a survey by Zacks Investment Research.